Equity Home Loans

Tax question reguarding my mortgage lender.?

When taking deductions, I have to enter the name of my mortgage lender. My mortgage payments have switched around to different loan servicers over the span of my home ownership. For instance, right now and for the past year and a half, I have been making my payments to Home Eq Servicing. The Loan was issued by Wells Fargo, when teh house was bought origionally. So do I enter my current recipient, or the origional Wells Fargo?

Public Comments

1. Current.
2. they sell the account so list who you are sending the payment to now.
3. Enter the name that is listed on the 1098 sent by your mortgage company this year. If you have multiple statements, enter the name of each lender. Mortgages are sold all the time, so the name can change. If you refinance as well, you will have a new lender, so always list your current one, or the name from the form.
4. Enter who is currently receving your payments as of Dec. 2006. If it switched halfway through the year, you would list each mortgage company and the portion you paid to them in interest. you should have gotten a statement from each company you paid interest payments to at any point in 2006.
5. You enter the name of the lender shown on the Form 1098. I had a loan passed around 3 times one year; it's not unusual at all.
6. Each company that you made payments to last year should send you a separate 1098. You need to enter each 1098 into your tax software separately. Use whatever name is on the 1098, even if that is not the name you use on the checks.